Financial Daily from THE HINDU group of publications
Wednesday, Aug 18, 2004
Financial Daily from THE HINDU group of publications Wednesday, Aug 18, 2004 |
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Industry & Economy
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Power `Huge investments needed to meet power shortfall' Our Bureau
Mangalore , Aug. 17 KARNATAKA has a shortage of 2,250 MW of power and it is estimated to grow to 5,033 MW by 2011. The peak demand shortfall in the State is at 22.5 per cent and energy shortfall at 9.8 per cent. This shortfall is likely to increase with present power generation capacity. This was stated by Mr K.S. Balachandra, Project Head (Technical), Nagarjuna Power Corporation Ltd. There is a need for investing around Rs 25,000 crore to Rs 27,000 crore in the power sector in the State, he said. He was delivering a lecture on `Power and development' organised by the Kanara Chamber of Commerce and Industry (KCCI) in Mangalore on Monday evening. Though Karnataka is a large producer of hydro-electricity, other options of power generation will have to be looked into in order to reduce the vagaries of nature. Considering the unstable market for oil and naphtha and yet-to-be-established market for liquefied natural gas, coal is the immediate option for the State, he added. The tariff of the power produced by the proposed Nagarjuna thermal power plant will be around Rs 2.10 per unit, he said. The plant is likely to be operational by 2008-09. The thermal power plant of Nagarjuna Power Corporation Ltd will be set up at a cost of Rs 4,300 crore in Udupi district. He said that Karnataka Power Transmission Company Ltd purchases more than 9,000 MW of power every year from various producers, by paying around Rs 2.50 to Rs 7 per unit. He said the Nagarjuna plant could generate more than 7,000 MW of power. Coal, which will be imported from Australia and South Africa through New Mangalore Port, will be the primary fuel for the proposed plant.
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